Treasury Sanctions Currency Mixer Tornado Cash

The video explores the role of Bitcoin in avoiding monetary censorship and the US Treasury's sanctions targeting North Korea's cybercriminal activities. It discusses the balance between privacy and regulation in the crypto space, highlighting Tether's stance on OFAC sanctions. The transparency of blockchain is compared to traditional banking, emphasizing the need for privacy tools like Tornado Cash. Finally, the video examines the US's cautious approach to Central Bank Digital Currencies (CBDCs) amid global competition.

What is one of the main reasons for Bitcoin's creation?

• To enhance transaction speed

• To reduce transaction fees

• To avoid monetary censorship

• To increase government control

Why does the US Treasury target North Korea in the crypto space?

• To promote economic growth

• To prevent money laundering

• To encourage crypto adoption

• To support North Korean economy

What is Tether's stance on blocking addresses linked to sanctioned entities?

• They block only those on the SDN list

• They block addresses without any guidance

• They do not block any addresses

• They block all addresses

What does Tether require before taking further steps in blocking addresses?

• More guidance from OFAC

• Approval from North Korea

• A new blockchain technology

• Support from all crypto companies

How does blockchain provide visibility in financial transactions?

• By hiding all transactions

• By encrypting all data

• By allowing anonymous transactions

• By enabling fund tracking

What is a major concern with tools like Tornado Cash?

• They lack privacy features

• They are not user-friendly

• They are used by illicit actors

• They are too expensive

Why is the US cautious about issuing a CBDC?

• Due to lack of technology

• Because of high costs

• To avoid international competition

• To maintain the US dollar's dominance